Who is responsible for our debt?

loopyloulou_3

i only have myself to blame!

although when i was alot younger i do recall asking my bank manager if i had anything to worry about when getting a bigger loan and he said "7k loan is nothing - you should see how much some people owe!" not very responsible in my opinion!

I think children should be educated more about being responsible for borrowing and encouraged not to get into debt. Instead of learning the hard way!

But at the end of the day - I am in debt because I spent more than I earned or saved so I can't blame any one else.

comicmankev

In this current time of blame culture, many will blame others, but seriously, there is no way anyone can blame anyone but themselves.

The banks may help to quickly increase the debt, with unlawful charges, no help etc. but if you live within your means then it won't happen.

I am in huge debt, and I feel hard done by, but at the end of the day, I could not have moved without getting further into debt, and with small child, it was my choice. I've had it hard for years, my wife and I have NEVER been out of an evening due to the spending, thats 5 years now!

I do feel sad, but I don't blame other, and I wish that others would see sense and take responsibility! This responsibility is not just for debt, it's for everything in life eg:

Is it the school or teachers fault that you child has an ASBO? No

Is it the governments thought if you CHOOSE to join the army then have to go to war? No

Is it the councils thought that you tripped over on the pavement and broke your arm? NO!!!!!!!!!!!!!!


Seriously, in todays society, we CAN blame others, but it really only comes down to 1 person.

mm2000

Stupidspender wrote:

What a refreshing attitude here to many of the forums threads on this site!
mm2000 but who's fault was the debt in the first place? I personally did not hold the government responsible when I was out spending on wine and cloths "because I deserved a treat" or sod it “ive been good this weeek” .

Is it realistic to blame Tonny Blair that I paid for my car with a loan with a high APR then some car repairs on my credit card because I had not built up a emergency fund in cash.
Neither could it be conceivable that the nightclub trip and holiday was forced on me by Gordon brown?
However when I looked at all my horrendous debt a couple of years ago, I too was looking for someone to blame. The thing is I only started clearing the debt when the penny dropped that it was me and no one else that was to blame.

The reason I blame Tony Blair and his cronies because although I owed money I was doing alright paying it back. But then they started imposing all their stealth taxes, my employer could no longer afford to to pay me at the level I had been and my wages were reduced. Although I have payment plans in nplace to repay my debts it is getting increasingly harder as Mr Brown increases his taxes or doesn't increase them in line with inflation. What wage rises I get each year are eaten up by increases in the cost of living. It wasn't a debt till I couldn't pay it.

Stupidspender_2

100% political rubbish, your the one that speny it!

comicmankev

mm2000 wrote:

The reason I blame Tony Blair and his cronies because although I owed money I was doing alright paying it back. But then they started imposing all their stealth taxes, my employer could no longer afford to to pay me at the level I had been and my wages were reduced. Although I have payment plans in nplace to repay my debts it is getting increasingly harder as Mr Brown increases his taxes or doesn't increase them in line with inflation. What wage rises I get each year are eaten up by increases in the cost of living. It wasn't a debt till I couldn't pay it.

So basically, without being rude, you lived way beyond your means, and it was only a matter of time until you became unstuck?

mm2000

I may have spent it or borrowed it but I was within my means because of the greed of this government and their inability to make ends meet, I now have to struggle to make ends meet. Only difference is I don't have the ability to force people to pay me more so I can sought my finances out.

lynzpower

comicmankev wrote:

Is it the councils thought that you tripped over on the pavement and broke your arm? NO!!!!!!!!!!!!!!

Seriously, in todays society, we CAN blame others, but it really only comes down to 1 person.

Sorry comicmankev, I really dont agree with you there. Some of youre examples may be fine. If you eat something and get poisioned as the trader has put bleach in the food, thats not your fault. If you fall over on an uneven paving stone, thats not ALWAYS your fault, at the end of the day we pay our taxes so that the local authority maintains a safe enviroment for us. Is it more or your fault if you are blind or elderly? Is it more your fault f you havent paid your council tax for the year?

At the end of the day, Im not a litigant at all, but if someone did something to me and they were illegal by doing it, Id be doing everything in my power tro ensure fair recompense.

comicmankev

lynzpower wrote:

Sorry comicmankev, I really dont agree with you there. Some of youre examples may be fine. If you eat something and get poisioned as the trader has put bleach in the food, thats not your fault. If you fall over on an uneven paving stone, thats not ALWAYS your fault, at the end of the day we pay our taxes so that the local authority maintains a safe enviroment for us. Is it more or your fault if you are blind or elderly? Is it more your fault f you havent paid your council tax for the year?

At the end of the day, Im not a litigant at all, but if someone did something to me and they were illegal by doing it, Id be doing everything in my power tro ensure fair recompense.

A very fair comment, and my examples may not be used in every situation. But I do still think that 'accidents do happen'. Should a paving slab come loose (when a large vehicle drives over it where it shouldnt) then a person trips over it 10 minutes later, how would the council know about that? It is a very sad fact if an elderly person tripped and hurt themselves (or worse) but it is an accident at the end of the day.

Of course, there are cases of pure neglect, ie a paving slab left unfixed for months after several reportings, and youre food poisoning example. Then they should pay - lol!

mm2000

lynzpower wrote:

Sorry comicmankev, I really dont agree with you there. Some of youre examples may be fine. If you eat something and get poisioned as the trader has put bleach in the food, thats not your fault. If you fall over on an uneven paving stone, thats not ALWAYS your fault, at the end of the day we pay our taxes so that the local authority maintains a safe enviroment for us. Is it more or your fault if you are blind or elderly? Is it more your fault f you havent paid your council tax for the year?

At the end of the day, Im not a litigant at all, but if someone did something to me and they were illegal by doing it, Id be doing everything in my power tro ensure fair recompense.

I have to agree if someone is guilty for an accident by way of negligence then compensation is required, if I have an accident at work most of the time it won't be out of my employers negligence so I'm not bothered but some people do like to try it on. I know of one person who lost the top of his finger and was awarded £32,000 (inc. loss of wages) in an out of court settlement. It was only weeks before hand he had said to a colleague about losing a finger. Not saying it was deliberate but you never know.

Kevicho

People should take RESPONSIBILITY for there own debts.
At the end of the day they will lose all there home or whatever if they fail to do this.
Society in general is being bombarded by advertising, peer pressure and a "I want it now" attitude which means people get rediculous levels of credit.
In the end the credit repayments cripple there spending power as most of the monthly income goes on debt repayments, including the compund interest they have to pay, which invariably means that because they couldnt wait a month to save up for the item, they end up paying a lot more thanks to interest.

We live in times were job security is a thing of the past, people should be saving up to make sure they can cope in an emergency situation.

Instead money goes on items they cant afford, usually on credit.

If someone doesnt take responsibilty for there own actions then they will never get out of debt, instead they will be paying interest until they retire and end up with nothing.
Who else is going to pay your debts?

There are many, many ways to buy things cheaper, and ways to make money last longer.

If someone loses there job or divorces then having debt magnifies the problem, too many people think of the now, not enough forward planning for emergencies